tsptalk's Market Talk

[bmneveu]

That gap was my target to get out! I didn't think we would fill it so fast. It's hard to complain, but the low volume isn't very convincing. Maybe I'll stick around for awhile and see how long we hold above the 20 day EMA.

OK, the gap was filled. Now what? Was that resistance or does it continue higher.

 

[shitepoke]

Tom, is that a head and shoulder forming on SPY??

 

[tsptalk]

I'm not seeing it on the daily chart... yet. :22:

 

[tsptalk]

Yet another test of the 200-day EMA for the Transports. If you keep knock'in eventually someone is going to let you in. Can it possibly be swatted back again?

 

[WorkFE]

Can it possibly be swatted back again?

Oh yeah

 

[RealMoneyIssues]

Yet another test of the 200-day EMA for the Transports. If you keep knock'in eventually someone is going to let you in. Can it possibly be swatted back again?

Key word, eventually... but that one time it punches through could be after another test of the 7500. Just too many other things in the market for me (locally [in]famous Perma-Bear) to think its going to punch through... But hey, we spent $4T to get to this point, you never know

 

[tsptalk]

It's breaking out now... is it for real or a fake out?

 

[bmneveu]

That is a pretty steep slope it is climbing. My prediction is we close above the 200 but it takes a breather and walks on it for a few days.

It's breaking out now... is it for real or a fake out?

 

[WorkFE]

I need it to hold until COB Monday

kidding, I'd like to hold a day or 2 longer

 

[bmneveu]

The S fund is outperforming the C fund for the first time in what feels like a long time. Are we starting to see a transition from large caps to small caps for the seasonally bullish holiday run?

 

[tsptalk]

In today's commentary I wrote...

The AGG (Bonds / F-Fund) continues to test the resistance of the 50-day EMA and the old support line. It looks like something is going to have to give here.

And today...

If I had to make a call I would have said the move would have been to the downside, but the bond market always seems to have me leaning the wrong way - so I didn't make the call.

 

[tsptalk]

Huh! I wasn't wrong. The market was. :laugh:

If I had to make a call I would have said the move would have been to the downside, but the bond market always seems to have me leaning the wrong way - so I didn't make the call.

 

[tsptalk]

Possible trouble...

 

[JTH]

Possible trouble...

It's been difficult for me to judge the markets this year using the Transports as the traditional canary in the coalmine.

Still (from the scale I use) it's not easy to ignore 2 lower highs with a Triple Bottom Breakdown

 

[shitepoke]

In general, is there any meaning to two lower highs?

 

[weatherweenie]

In general, is there any meaning to two lower highs?

It means, the trend is downward, for the given period.

 

[shitepoke]

Tom, is there a new line to be drawn for SPX?? You will probably have it tomorrow??

 

[tsptalk]

I'm not sure about a new line, but yesterday's low on the SPY was at the 200-day EMA.

 

[tsptalk]

Oil is down about 5%.

Small caps lagging and trying to hang onto support.

The Trannies started strong but have reversed down...

 

[tsptalk]

Early Tuesday...